Since January 10th is the deadline for the SEC to decide on spot Bitcoin (BTC-USD) ETF is approaching, investors are watching closely for any new details on how it will affect the market. Yahoo Finance Julie Hyman sat down with Cathie Wood, Founder, CEO and CIO of ARK Invest discuss her position on bitcoin, crypto market and digital assets in general. During the interview, Woods enthusiastically elaborated on her interactions with the SEC: “We were thrilled to get the questions (from the SEC) because that means they’re engaged now. We’ve met a number of investigators at the SEC. . . they know what they’re talking about.” they’re saying and the level of sophistication of their questions suggested that it’s OK for them to go deeply into this now.”
More questions are being raised about what the SEC’s decision could mean for markets and investors if regulators convey positive sentiment. Lance McGray, Advisors Asset Management Head of ETF Products, joins Yahoo Finance to provide insight into the impacts of the SEC’s decision and how successful these ETFs could be.
McGray explains how successful ETFs have been in the past year alone: ”We’ve seen in the last year about 50 conversions come into the market and about $75 billion in assets that have come from other envelopes, specifically a mutual fund envelope into what is considers the ETF envelope to be more cash efficient, flexible, and transparent.
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